Provo's Bonneville Bank has been awarded a five-star rating, identifying it as one of the top banks in the United States for safety, strength and performance.
Bauer Financial Reports Inc., a Florida-based research firm that analyzes and rates all U.S. banks, thrifts and credit unions, awarded Bonneville Bank the highest rating."Banks as strongly capitalized and well-managed as Bonneville Bank are the backbone of the financial services industry," said Paul A. Bauer, president of the research firm. "We commend Bonneville Bank for its ability to reach this highest level of excellence."
A five-star rating indicates that Bonneville bank's tangible capital exceeds 9 percent, that there are no excessive delinquencies or repossessed assets and that the bank is profitable.
The tangible capital required for Bauer's five-star rating is twice that required by federal regulators.
Bonneville Bank, 1675 N. 200 West, has been serving the community for more than 15 years.